Elon Musk's Doge Denial, Analyst's Hefty Price Target And Shiba Inu Whales: Meme Coin World Was Howling With News This Week
Portfolio Pulse from Benzinga Newsbot
This week, meme coins experienced significant events, including a Shiba Inu whale accumulating $10 million worth of SHIB and a crypto analyst predicting a potential 95% rally for Dogecoin by late 2023. Elon Musk denied owning Dogecoin, and a North Carolina politician announced plans to buy Shiba Inu with his next paycheck.
June 18, 2023 | 10:58 am
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A crypto analyst predicted a potential 95% rally for Dogecoin by late 2023, while Elon Musk denied owning the meme coin.
The bullish prediction by the crypto analyst could lead to increased interest and investment in Dogecoin, driving its price up in the short term. However, Elon Musk's denial of owning Dogecoin may create uncertainty among investors, potentially limiting the rally.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
A Shiba Inu whale accumulated $10 million worth of SHIB, and a North Carolina politician announced plans to buy the meme coin with his next paycheck.
The Shiba Inu whale's accumulation of $10 million worth of SHIB could signal confidence in the meme coin's potential, attracting more investors and driving its price up in the short term. The North Carolina politician's announcement may also generate interest in SHIB, further supporting its price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100